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Finance & Accounting>Finance & Accounting

CGT or IHT

Sometimes there is a choice of which tax to pay and where a person owns an investment property, they may be able to exercise a

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Finance & Accounting>Finance & Accounting

Should I change my accounting date?

In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading

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Finance & Accounting>Finance & Accounting

‘Trivial benefits’ – PAYE

Legislation surrounding ‘Trivial Benefits’ was introduced to save employers from having to report relatively small amounts given to employees as taxable on a form P11D. 

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Finance & Accounting>Finance & Accounting

Relief for pre-trading expenses

When you start a business, you will need to incur costs before you are able to start trading. Did you know that you are able

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Finance & Accounting>Finance & Accounting

Use simplified expenses to save work

A lot of time and paperwork can be saved by claiming expenses using the simplified rates, rather than recording and deducting actual costs. However, if

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Finance & Accounting>Finance & Accounting

Identifying NIC increases on the pay-slip

For 2022/23 only, the rates of Class 1 (employer and employee) National Insurance contributions are increased by 1.25 percentage points, along with the rates of

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Finance & Accounting>Finance & Accounting

How HMRC deals with tax debts

During the covid pandemic HMRC suspended many of their debt collecting activities. However, as the UK emerges and economic activity resumes, HMRC has restarted their

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Finance & Accounting>Finance & Accounting

Dividend ‘traps’

A shareholder/ director is permitted to withdraw monies from the company’s bank account as salary, bonus or dividend (or possibly a loan’). However, there are

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Finance & Accounting>Finance & Accounting

Holiday lets – tax implications.

The taxation of profit from furnished holiday lets (FHL) could be termed a ‘hybrid’ of taxes. The operation of a FHL is deemed to be

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